BUA Cement Grows Profit by 79% to N384.4bn in H1 2026

Kayode Tokede

BUA Cement Plc has released its half-year (H1) unaudited financial statements for the period ended June 30, 2026 with profit before tax of N324,4 billion, about 79 per cent increase over N214.8 billion reported in the half year (H1) ended June 30, 2025. 

The company reported N728.9 billion revenue in H1 2026, a 25.6per cent growth from N580.3 billion as at the end of the corresponding period ended 2025. 

This strong performance was attributable to growth in the “new market” business segment, continuing cost containment across operations, sustained fiscal discipline in our treasury function and a stable foreign currency environment. 

Growth in the “new market” segment recorded increased contribution to revenue, year-on year(y/y), and over the preceding quarter. 

Cost containment measures resulted in a 4.4 per cent decline in direct cost per ton (y/y), including a 0.6 per cent decline between the first two quarters of this year. Year-on-year, the Company’s Operating Ratio (OR)1 declined to 49.1 per cent (H1 2026), from 57.9 per cent (H1’2025).

Considering these appreciable gains, Return on Asset (ROA) increased to 21.4per cent in H1 2026 (up from 15.4per cent in H1 2025), underpinned by higher margins and improved asset turnover. 

By extension, Return on Equity (ROE) increased to 52.4per cent (H1 2026), up from 37.8per cent in H1 2025. 

EBITDA rose to 54 per cent in H1 2026 from 46.3per cent at the end of the corresponding period. Overall, Earnings per Share (EPS) increased to N9.59 (H1’2025: N5.34).

Speaking on the company’s performance, the Managing Director/CEO, BUA Cement, Yusuf Binji in a statement said, “We have delivered a strong quarter despite the constraints encountered. As outlined in my April commentary, our strategic focus is firmly on new growth opportunities and cost containing measures. 

“I am pleased with the traction of the growth plans and the gains recorded. We will continue to prioritise measures aimed at driving operational efficiencies. 

“Therefore, I expect current process optimisation activities will result in higher productivity and improved cost management, especially with the decisions taken during the quarter. I am very encouraged by our outlook and performance over the next quarters.